Lockheed Martin has won a $1.09bn contract to build PAC-3 missiles for the US Army and its allied military forces, including the South Korean Army, Qatar, and Saudi Arabian Army.
The PAC-3 missiles will be used in the Raytheon-built Patriot missile defense system.
The contract includes delivery of Patriot advanced capability-3 (PAC-3) missiles, and PAC-3 missile segment enhancement (MSE) missiles to the US Army.
The US allies Saudi Arabia, the Republic of Korea, and Qatar will get PAC-3 interceptors, launcher modification kits, and associated equipment and spares.
Lockheed Martin vice-president Scott Arnold said: "Our PAC-3 and PAC-3 MSE interceptors are the most trusted and capable terminal air defense missiles in the world, and we’re proud to support our customers as they protect soldiers, citizens and infrastructure from adversary threats.
"All Lockheed Martin-built missile defence interceptors utilise advanced hit-to-kill technology enabling better accuracy, enhanced safety, and improved reliability when it matters most."
The PAC-3 missile is a high-velocity interceptor, designed to defend against incoming threats posed by tactical ballistic missiles, cruise missiles, and aircrafts.
PAC-3 is presently used by six nations, which includes the US, the Netherlands, Germany, Japan, United Arab Emirates and Taiwan.
As well as South Korea, Qatar and Saudi Arabia, Lockheed Martin is also under contract with Kuwait.
Last year, the Defense Security Cooperation Agency announced the possible sale of PAC-3 missiles to Saudi Arabia, which was valued at $1.75bn.
The US government gave its approval for the sale of PAC-3 missiles worth up to $1.41bn with South Korea in November 2014.
Image:Lockheed Martin has received a $1.1bn contract for production and delivery of PAC-3. Photo: courtesy of PRNewsFoto/Lockheed Martin.